The Lincoln Wheat Penny, minted from 1909 to 1958, is a staple in American coinage. While most are common, certain rare variants, especially the 1943 copper penny, have fetched staggering amounts at auctions, with some reaching up to $2 million.
This article delves into the history, rarity, and value of this elusive coin, guiding you on how to identify if you might possess one.
The 1943 Copper Penny: A Wartime Rarity
During World War II, copper was essential for military supplies, leading the U.S. Mint to produce pennies from zinc-coated steel in 1943.
However, a few pennies were mistakenly struck on leftover bronze planchets from 1942, resulting in the rare 1943 copper penny. It’s estimated that only 20 to 30 of these coins exist today.
Identifying a 1943 Copper Penny
To determine if you have a 1943 copper penny:
- Color: Copper pennies have a reddish-brown hue, unlike the silver-gray appearance of steel pennies.
- Magnet Test: Copper pennies are not magnetic, whereas steel pennies will stick to a magnet.
- Weight: A copper penny weighs approximately 3.11 grams, while a steel penny weighs around 2.7 grams.
If you believe you have a 1943 copper penny, it’s advisable to have it authenticated by professional grading services like the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC).
Notable Auction Sales
The value of a 1943 copper penny varies based on its condition and mint mark:
- 1943-D (Denver Mint): A unique specimen sold for $1.7 million in 2010.
- 1943 (Philadelphia Mint): Circulated examples have fetched prices around $204,000.
Other Valuable Lincoln Wheat Pennies
Apart from the 1943 copper penny, other rare Lincoln Wheat Pennies include:
- 1909-S VDB Penny: Only 484,000 minted, valued between $1,000 and $100,000.
- 1914-D Penny: Low mintage, with values ranging from $5,000 to $150,000.
- 1922 No D Penny: A minting error where the ‘D’ mint mark is missing, valued between $5,000 and $50,000.
- 1955 Double Die Penny: Features doubled lettering, with values ranging from $1,000 to $50,000.
| Coin | Estimated Value | Notable Features | Auction Record | Year Sold |
|---|---|---|---|---|
| 1943-D Copper Penny | Up to $1.7 million | Unique Denver mint copper penny | $1.7 million | 2010 |
| 1943 Copper Penny | $204,000 | Philadelphia mint copper penny | $204,000 | 2019 |
| 1909-S VDB Penny | Up to $100,000 | Low mintage with designer initials | $100,000 | N/A |
| 1955 Double Die Penny | Up to $50,000 | Doubled lettering error | $50,000 | N/A |
The allure of discovering a rare coin like the 1943 copper penny adds excitement to coin collecting. While the chances are slim, it’s worth examining your pocket change and old coin collections.
Authenticating and preserving such coins can lead to significant financial rewards, turning a simple penny into a million-dollar treasure.
FAQs
How can I tell if my 1943 penny is copper or steel?
Perform a magnet test: if the penny sticks to a magnet, it’s steel; if not, it might be copper. Additionally, copper pennies have a reddish-brown color, whereas steel pennies appear silver-gray.
What should I do if I find a 1943 copper penny?
If you believe you’ve found a 1943 copper penny, have it authenticated by a professional grading service like PCGS or NGC to verify its authenticity and determine its value.
Are there other valuable Lincoln Wheat Pennies I should look for?
Yes, other valuable Lincoln Wheat Pennies include the 1909-S VDB penny, 1914-D penny, 1922 No D penny, and the 1955 Double Die penny, each with its unique features and values.